Telsey Advisory Group Has Lowered Expectations for Zevia PBC (NYSE:ZVIA) Stock Price

Zevia PBC (NYSE:ZVIA) had its price objective dropped by research analysts at Telsey Advisory Group from $6.00 to $5.00 in a research report issued on Thursday. The brokerage currently has an “outperform” rating on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 223.00% from the company’s current price.

ZVIA has been the subject of a number of other research reports. Zacks Research cut Zevia PBC from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Craig Hallum initiated coverage on shares of Zevia PBC in a research note on Thursday, January 15th. They set a “buy” rating and a $4.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Zevia PBC in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.43.

Zevia PBC Trading Up 3.2%

Shares of NYSE:ZVIA opened at $1.55 on Thursday. Zevia PBC has a 12 month low of $1.49 and a 12 month high of $3.66. The company has a market capitalization of $116.10 million, a price-to-earnings ratio of -7.04 and a beta of 0.86. The firm’s 50-day moving average is $1.92 and its 200 day moving average is $2.35.

Zevia PBC (NYSE:ZVIA) last announced its earnings results on Wednesday, February 25th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01. The business had revenue of $37.87 million during the quarter, compared to analyst estimates of $39.96 million. Zevia PBC had a negative return on equity of 30.61% and a negative net margin of 8.83%. As a group, equities analysts forecast that Zevia PBC will post -0.32 EPS for the current fiscal year.

Insider Activity at Zevia PBC

In other news, major shareholder De Depot Et Placement D. Caisse sold 3,500,000 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $2.00, for a total transaction of $7,000,000.00. Following the transaction, the insider owned 13,550,428 shares in the company, valued at approximately $27,100,856. This trade represents a 20.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 11.11% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Zevia PBC in the 2nd quarter valued at about $25,000. Quadrature Capital Ltd purchased a new position in Zevia PBC during the fourth quarter valued at approximately $26,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Zevia PBC in the fourth quarter worth approximately $27,000. Engineers Gate Manager LP purchased a new stake in Zevia PBC during the fourth quarter worth $28,000. Finally, SG Americas Securities LLC purchased a new stake in Zevia PBC during the fourth quarter worth $31,000. 53.21% of the stock is currently owned by institutional investors.

About Zevia PBC

Zevia PBC, headquartered in Los Angeles, is a Public Benefit Corporation that produces zero-calorie, naturally sweetened beverages. Founded in 2007, the company went public through a merger with a special purpose acquisition company in March 2021. Zevia’s mission centers on offering healthier drink alternatives by using stevia leaf extract and other plant-based ingredients rather than sugar or artificial sweeteners.

The company’s product portfolio spans multiple categories, including carbonated sodas, sparkling water, energy drinks, mixers and flavored teas.